The bids will then be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. The outer limit for the process is May-end. Transfer of control to the buyer will be effected by June-end.
As Etihad has withdrawn from the resolution plan, it has now become apparent that only a government intervention can rescue Jet Airways.Continue Reading
Banks are likely to infuse fresh funds into cash-strapped Jet Airways if……there is a big IF. It is whether major shareholders of the airline – Etihad and Founder Chairman Naresh Goyal- would like to pledge their shares as collateral security. With Jet Airways unable to get fresh funds, the options are becoming limited now. The […]Continue Reading
Jet Airways pilots had earlier been wooed by IndiGo with compensation for their pending salaries and other benefits, leading to murmurs of protests from IndiGo’s own pilots. The largest airline has been facing acute shortage of cockpit crew, leading to cancellation of hundreds of its flights last month.Continue Reading
A day after Etihad walked out of the prolonged bank-led resolution plan for Jet Airways, lenders got into action to chalk out a plan B. Senior bank executives worked the phones and logged on to video-conferencing in a move to rescue Jet, which has a debt pile of about Rs 8,000 crore and is left […]Continue Reading
On 14 February, Jet Airways board approved a bank-led resolution plan whereby lenders would become the largest shareholders in the airline.Continue Reading